(Step-by-Step) When companies are designing a new product, one of the steps typically taken is to see how potential buyers react to a picrure or prototype


Question: When companies are designing a new product, one of the steps typically taken is to see how potential buyers react to a picrure or prototype of the proposed product. The product-development team for a notebook computer company has shown picture A to a large sample of potcn-~ tial buyers and picture B to another, asking each person to indicate what they "would expect to pay" for such a product. The data resulting from the two pictures are provided in file xaiiezs. Using the 0.05 level of significance, determine whether the prototypes might not really differ in terms of the price that potential buyers would expect to pay. Identify and interpret the p-valnc for the test. Construct and interpret the 95% confidence interval for the difference between the population means. Is the hypothesized difference (0.00) within the interval? Given the presence or absence of the 0.00 value within the interval, is this consistent with the findings of the hypothesis tesr?

Price: $2.99
Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document

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